Summary
The Utah Division of Real Estate on Thursday issued a set of regulatory "best practices" covering marketing of non-traditional mortgages by state-licensed mortgage brokers and companies.
These products include interest-only mortgages and payment option adjustable-rate mortgages, which allow borrowers to exchange lower payments during an initial period for higher payments later for the life of the mortgage.See the full content of this document
Extract
State Issues Mortgage Guidelines
Non-traditional mortgage produ...
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